Etherum Fees Double In a Week As DeFi Heats Up - page 4.

smyslov

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Quote from: disconnectme on September 19, 2020, 02:27:15 PM

I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this

The developers of Ethereum should address this issue or those projects with good potential in the market will create their platform on other smart contract platform like Tron or Eos, the fee is something that investors and traders can't bear they are even higher than Bitcoin's fee my highest transaction was $15 when I trade my Ethereum to fiat because of an urgent need.

Danslip

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The current network fees are outrageous for average traders, the ETH 2.0 should fix the mentioned issues. The DEFI hype is the main reason why the fees for sending transaction has doubled up, so if there is no other alternative traders are supposed to pay the same fees over and over for each transaction. Imagine paying $30 for deposit and withdrawal of token after making a trade. I am irritated to say my friends who I have helped to buy a altcoins about the high GAS fee and their response is pointed to ETH devs. Insane fees will not make it possible to sell the tokens of my friends, so I advise them to be calm and patient.

jossiel

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Quote from: tycsols on September 19, 2020, 01:33:03 PM

Defi hype was potent in causing ethereum network congestion and high transaction fee but this uniswap and their free 400 UNI tokens give away has added fire to the fuel and now the transaction fee is really high and no one is happy about it other than eth miners or platforms like uniswap that charge comission on every transaction.

They should be happy because of the increased fees and they deserve especially if the transaction is coming from the airdrop.

Quote from: disconnectme on September 19, 2020, 02:27:15 PM

I just hope these high fees is not going to kill Ethereum

This isn't the first time around with these high fees and during the first time, Ethereum maintains its position. 2.0 is the solution but it's still unknown when.

Bitcoin_Arena

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I can only imagine what is most likely to happen should Ethereum's price attempt to get back to that $500 mark that it tried to reach a few weeks earlier. The Network will be a mess Roll Eyes

Quote from: disconnectme on September 19, 2020, 02:27:15 PM

I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.

The won't have to if ETH 2.0 comes quicker and is successful

Quote from: disconnectme on September 19, 2020, 02:27:15 PM

I just hope one or two of these Ethereum competitor will come up with a lasting solution to this

All have tried but failed. The "Ethereum Killers" in NEO, EOS, TRON, you name it haven't even lived up to even 1/10th of Ethereum's hype and gone down crushing. There's something about Ethereum that keeps developers deploying more and more smart contracts on the network.

disconnectme

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I just hope these high fees is not going to kill Ethereum, we now need a scaling solution like never before, if airdrops can drive he price this high, what will happen when we see a game or Dapps that is hugely successful.
I just hope one or two of these Ethereum competitor will come up with a lasting solution to this

tycsols

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Defi hype was potent in causing ethereum network congestion and high transaction fee but this uniswap and their free 400 UNI tokens give away has added fire to the fuel and now the transaction fee is really high and no one is happy about it other than eth miners or platforms like uniswap that charge comission on every transaction.

kolbalish

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The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.

In brief

The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
More hash power is being added to the network.

Want to read more?- Go through the link- https://decrypt.co/42365/etherum-fees-double-in-a-week-as-defi-heats-up

Topic: Etherum Fees Double In a Week As DeFi Heats Up - page 4. (Read 723 times)